Sarasin & Partners LLP reported a significant sale of Tetra Tech shares valued at an estimated $155.35 million for the quarter ended Sept. 30, 2025, according to an SEC filing dated Oct. 10, 2025.
What happened
Sarasin & Partners LLP disclosed in its SEC Form 13F filing dated Oct. 10, that it sold 4,273,853 shares of Tetra Tech (TTEK -0.93%) during Q3 2025. The estimated transaction value, based on the quarterly average price, was approximately $155.35 million. The fund now holds 409,723 shares valued at $13.8 million, amounting to 0.14% of its $10.2 billion reportable U.S. equity portfolio as of Sept. 30, 2025.
What else to know
This sale reduced Tetra Tech's weighting from 1.68% to 0.14% of Sarasin & Partners LLP’s 13F assets under management as of Q3 2025.
Top holdings after the filing:
- Microsoft: $1.02 billion (10.0% of AUM)
- Nvidia: $828.6 million (8.1% of AUM)
- Amazon: $570 million (5.6% of AUM)
- Alphabet: $556.6 million (5.5% of AUM)
- Meta Platforms: $456.1 million (4.5% of AUM)
As of Oct. 9, 2025, shares of Tetra Tech were priced at $34.30, down 30.7% over the past year and underperforming the S&P 500 by 47.6 percentage points
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $5.20 billion |
| Net Income (TTM) | $333.38 million |
| Dividend Yield | 0.72% |
| Price (as of market close 2025-10-09) | $34.30 |
Company Snapshot
Tetra Tech provides consulting and engineering services, including data analytics, environmental monitoring, engineering design, and project management, with a focus on water resources, climate change, energy management, and infrastructure.
The company generates revenue from government contracts, commercial clients, and international development agencies through specialized engineering and consulting solutions.
Primary customers include federal, state, and local governments, utilities, natural resource companies, and organizations seeking sustainable infrastructure and environmental solutions.
Tetra Tech offers consulting and engineering services with a global presence and a diversified client base. The company leverages technical expertise in environmental management, water resources, and infrastructure to deliver high-value solutions for both government and commercial sectors. Tetra Tech's scale and specialized service offerings position it as a trusted partner for complex, sustainability-focused projects worldwide.
Foolish take
By reducing its position by more than 90%, Sarasin is implying a lack of conviction in Tetra Tech's future business. That may be related to headwinds created by a reduction in the size of government and added scrutiny on government contracts by the current administration.
The Department of Government Efficiency (DOGE) initiated an ongoing practice of cutting federal staffing and spending. Tetra Tech stock has tumbled by 30% over the last 12 months in that environment. The stock has recovered in recent months, though, with a jump of 16% since April.
That came as the company reported a strong fiscal third quarter, with earnings per share jumping 34% year over year. Sarasin looks to have taken advantage of those gains to nearly fully exit its position in Tetra Tech.
Glossary
13F: A quarterly SEC filing by institutional investment managers disclosing their U.S. equity holdings.
Assets Under Management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Quarterly Average Price: The average price of a security over a three-month reporting period.
Weighting: The proportion of a specific holding relative to the total value of a portfolio.
Reportable Assets: Investments that must be disclosed in regulatory filings, such as those required by the SEC.
Dividend Yield: A financial ratio showing how much a company pays in dividends each year relative to its share price.
TTM: The 12-month period ending with the most recent quarterly report.
Consulting and Engineering Services: Professional services providing expert advice and technical solutions for design, construction, and management of projects.
Government Contracts: Agreements in which a government entity purchases goods or services from a company.
Sustainable Infrastructure: Infrastructure designed to minimize environmental impact and support long-term ecological balance.
